Earnings

Ovintiv Inc. had a solid quarter in terms of production and is raising its guidance on natural gas output for the year. The Denver-based company sees natural gas production hitting 1.575-1.625 Bcf/d for the year, up from 1.525-1.575 Bcf/d in previous guidance. The company has assets in the Permian, Uinta and Anadarko Basins, and Canada’s…

Chesapeake Energy Corp. executives said Wednesday they expect to announce more deals tied to the LNG market as the company aims to expose 15-20% of its natural gas production to international trade of the super-chilled fuel.  Earlier this year, Chesapeake clinched a tentative arrangement with global commodities trader Gunvor Group Ltd. to supply up to…

Haynesville Shale pure-play Comstock Resources Inc. is keeping its sights on the long-term LNG demand outlook amid recent sluggishness in U.S. natural gas prices. CEO Jay Allison hosted a conference call Tuesday to discuss results for the second quarter, during which U.S. gas prices plunged by about 70% year/year.  Frisco, TX-based Comstock was the 11th…

Haynesville Shale exploration and production (E&P) companies are biding their time and keeping an eye on forward natural gas prices in anticipation of more LNG takeaway by 2025, DT Midstream Inc. (DTM) CEO David Slater said Tuesday. During the conference call to discuss second quarter results, Slater said the Detroit-based company is “observing moderating production…

Mexico’s state oil and gas giant Petróleos Mexicanos (Pemex) is showing how serious it is about producing more oil and natural gas, even if it means increasing amounts of government help. Natural gas production was 4.051 Bcf/d in the second quarter, up 199 MMcf/d compared to the same period last year. Liquids production was the…

Uniper SE, Germany’s largest natural gas buyer, said Tuesday it would invest nearly $9 billion through 2030 to accelerate its transformation into a “greener company” less than a year after it was nationalized amid one of the worst energy crises in Europe’s history.  The newly appointed management team said it would invest for a “massive…

Europe has a better forecast for natural gas storage ahead of this coming winter, but it’s too soon to say whether the continent is fully prepared, BP plc CEO Bernard Looney said Tuesday. During the conference call to discuss second quarter results, Looney said the weather, as usual, will be the deciding factor.  Regarding Europe’s…

TC Energy Corp. is spinning off its liquids pipelines business in order to narrow its focus on natural gas, power generation and decarbonization projects, management said Thursday (July 27). The spinoff, slated for completion in the second half of 2024, would separate the Calgary-based midstreamer into “two independent, investment-grade, publicly listed companies,” management said. The…

Appalachian Basin pure-play CNX Resources Corp. is bullish on the long-term prospects for natural gas prices and demand despite the current market slump, management said Thursday. CEO Nick Deluliis and his management team hosted a conference call to discuss second quarter earnings for Canonsburg, PA-based CNX. The company ranked No. 12 in natural gas volumes…